2026-07-15
Bankruptcy versus Consumer Proposal timelines: What to expect from start to finish
What Happens If You Can No Longer Pay Any Debts
2010-07-21
Generally speaking, pensions are exempt from seizure by creditors. Creditors can put a lien on your home, but only if you own your home. You indicate in your question that you are in good standing with your mortgage, which suggests that you do own your home. If you stop paying your mortgage, the mortgagee can start proceedings to sell the property. If you stop paying your other creditors, they will likely first start calling themselves or will turn the matter over to a collection agency. They may then try to get a judgment which can be used to seize your bank account or register a lien against your home (again only if you own it). If you require any additional information or would like to discuss your options, please contact the MNP office located closest to you. Here is the link to our offices in Ontario: http://www.mnpdebt.ca/contact/ontario/default.aspx
Latest Blog Posts
2026-07-13
MNP Consumer Debt Index: Nova Scotians caught in pre-spent paycheque cycle amid sustained cost pressures
MNP Consumer Debt Index
Atlantic Canadians (68%) are more likely than those in other provinces to say at least half of their income is already committed to bills, debt payments, and regular expenses before it arrives.
2026-07-13
MNP Consumer Debt Index: Canadians caught in pre-spent paycheque cycle amid sustained cost pressures
MNP Consumer Debt Index
According to the latest MNP Consumer Debt Index, three in five Canadians (61%) say at least half of their income is already committed to bills, debt payments, and regular expenses before it arrives.
